Silicon Seattle, A Few Predictions & Lead In The Water

With high home prices, low inventory and heated bidding wars, Seattle is the new San Francisco. In the metro Seattle area, home-sale prices rose 9.5% from 2014 to 2015, putting the median home value at $385,300, according to the National Association of Realtors. That’s below the limit for government-backed loans for the area, which currently…




Seattle Buyers Get Thrifty & Commercial Rent Control

Seattle Mayor Ed Murray on Thursday named 15 people to a committee that will recommend ways the city can address rising prices that small businesses pay to rent commercial space. He said everything, including rent control and mandating developers include lower cost commercial space in their projects, is on the table. Rent control for commercial…




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Squeeze on Inventory, Booming Downtown & Love That Craftsman

The shortage of homes for sale in the Seattle region is now stretching beyond King County. All four central Puget Sound counties are exhibiting a similar pattern: Prices are going up, but inventory is going down. All four have less than two months of inventory, going into the season when home sales typically heat up….




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MLS Market Update: April 2016

Puget Sound Area Home Sales Slow (Not Prices) Traffic isn’t the only thing that is gridlocked around many Puget Sound communities. “We’re experiencing gridlock in the Puget Sound housing market,” suggested J. Lennox Scott in reaction to the latest statistics from Northwest Multiple Listing Service. MLS figures show pending sales across the 23 counties it…




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Moving Trends For People, Transit & Google

What’s behind Seattle’s steady growth? The Seattle metro area experienced the fifth largest amount of growth among 85 metros in the Western Region of the U.S. from 2000-2014, an annual average rate of 1.4 percent. While that might not sound like a lot, that is about 700,000 new residents calling the Emerald City home since the…




All You Need to Know About RRIO

Improving & preserving safe & healthy housing for all Seattle renters. A quick reminder that the City of Seattle’s Rental Registration and Inspection Ordinance (RRIO) is rolling out across the City, with deadlines arranged by ZIP code. The City reports that many landlords do not know about this requirement, so pass this along to friends/family/colleagues…




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7 Steps To Buying A House




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Scarce Listings, The GMA & Sweet Digs For Expedia

The median price of single-family homes sold in King County hit a new all-time high last month — $514,975 — amid record-low inventory, heralding even more intense bidding wars ahead in the typically busy spring home-buying season. Ominously, the more affordable Snohomish and Pierce counties also face a historically low inventory level, according to a…




Employment Up! & Write Off Rent On Your Taxes?

A new bill hopes to provide some relief to renters who are faced with skyrocketing rental costs – by giving them a tax break. If approved, the bill would allow renters to deduct what they pay for rent from their federal taxes. Could Renters Get a Tax Deduction Soon?  – NAR Latest Unemployment Drop May…




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MLS Market Update: March 2016

Buyer Frustration Builds as Inventory Shrinks, Prices Rise Home prices in King County hit new highs in February as buyers tried to outbid each other for the sparse inventory in much of Western Washington. “We’re in for another crazy spring real estate market,” predicts J. Lennox Scott, chairman and CEO of John L. Scott, Inc….




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More Equity For Owners & Yes! You’re A Seattle Real Estate Broker

Home owners are increasingly optimistic about gaining equity in their homes this year, but they’re still conservative on how much they’ve truly gained. Forty-six percent of home owners with a mortgage say they believe they’ll see their equity increase in 2016, and the majority expect to see a gain by as much as 10 percent,…




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Silicon Refugees To Blame & More Cottages Needed

A very different kind of refugee crisis may drive Seattle home prices even higher in 2016. Zillow senior economist Aaron Terraza anticipates an influx of “Silicon refugees,” that is, tech workers relocating to Seattle because of the high cost of living in the Bay Area. Senior Zillow economist blames rising Seattle home prices on ‘Silicon…




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Prices High, Inventory Low & UW Downtown

King County’s housing market hit two milestones in December: The median single-family home price set a new high, $508,000, topping the $481,000 peak reached in July 2007 before prices began their long slide. And the number of active listings of houses and condominiums — just 2,196 — hit the lowest monthly level since at least…




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MLS Market Update: January 2016

Puget Sound area home sales, prices still strong Home prices have “clearly recovered” in King County and a few other areas served by Northwest Multiple Listing Service. Many member-brokers say prices are likely to keep rising as a backlog of buyers competes for depleted inventory. Those were among reactions from brokers upon reviewing the December…




How Long Does It Take To Build A Home?




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Top Place To Sell, Sorry Solo Buyer & Pink Is Back

King County is experiencing the worst shortage of homes for sale in more than a decade, driving prices higher and keeping more would-be buyers in apartments. Housing production can’t keep up with the massive influx of residents from out of state, said Todd Britsch, Northwest regional director for Metrostudy, a research firm that tracks home…




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MLS Market Update: December 2015

“Intense” Holiday Market Inventory remains “critically low,” but there are fewer house-hunters in the hunt during this holiday season so motivated sellers and buyers are seeing success, according to brokers with Northwest Multiple Listing Service. Its just-released statistics for November show year-over-year gains in pending sales, closed sales, and prices, but a steep decline in…




Hot 2016 Market, Bad Rental Timing & Google Jumps In

Metro Seattle ranks fourth nationally as the hottest market to watch for 2016, according to the influential Emerging Trends in Real Estate survey by the Urban Land Institute. This marks a rise from No. 8 in last year’s report. Emerging Trends has proved to be a good barometer of Seattle’s real-estate prospects. “The Seattle market…




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Pricey MI, Copyright Fight & Zillow Misses The Mark On One Of Their Own

Mercer Island, state’s priciest home market – Seattle Times If you bought your home during these years, you’re really hurting – MSN When it Comes to Photos, Know Before You Publish – Realtor Mag Statewide Form 22A—Financing Contingency: The Seller’s Perspective –  Seattle Bubble FHA changes to condo policies aim to boost homeownership – Inman…




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We’re #10! No, wait… We’re #4!

Short supply pushes up region’s home prices – Seattle Times Economic opportunity lands Seattle at No. 10 best city to own a home – PSBJ Tech boom drives Seattle to become fourth richest city in U.S. – Geek Wire Struggling to find a house? Try the ‘Seahawks Strategy’ – PSBJ 4 reasons real estate agents…




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MLS Market Update: November 2015

With holidays approaching, real estate brokers usually expect a slowdown as buyers and sellers shift their attention elsewhere. “This year is different,” say some industry leaders. “Today we have one of the best markets we’ve ever seen for sellers,” observed Ken Anderson, managing broker and owner at Coldwell Banker Evergreen in Olympia. “Buyers are still…